The joint venture between Chrysler parent company Stellantis and LG Energy Solution announced Tuesday it has begun mass production of lithium-ion batteries for use in energy storage systems. The company is holding off making batteries for electric vehicles amid dampened demand for those products. (The Logic)
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The joint venture between Chrysler parent company Stellantis and LG Energy Solution announced Tuesday it has begun mass production of lithium-ion batteries for use in energy storage systems. The company is holding off making batteries for electric vehicles amid dampened demand for those products. (The Logic)
Talking point: The federal government billed the Windsor plant as the first large-scale domestic EV battery manufacturing facility when it announced the $5-billion investment by NextStar Energy in 2022. Ottawa and the Ontario government pledged $1 billion in direct support between them, and production subsidies the parliamentary budget officer estimates could amount to more than $17.6 billion. Earlier this month, NextStar said it is expanding operations to make energy-storage-system batteries. CEO Danies Lee recently told the Windsor Star the company would wait to make EV batteries until demand picked up. NextStar spokesperson Daniela Ferro said the company has the flexibility to make both if needed.
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